Enterprise, Banking, and Telecom Low Code Application Development Platform

The global low-code development technologies industry has made its position in the market. According to Gartner, Inc.’s latest estimate, the industry will be worth 13.8 billion in the current year. That is about 22.6% greater than the previous year (2021). As a social and ethical phenomenon, the growth of the enterprise, banking, and telecom low-code development platform is expected to expand even more.

During the covid-19, there was an increase in remote production, which has continued to fuel low-code adoption. Low Code Application development platforms (LCAP) are expected to take the lead in low-code development technology in the market by 2023. The technology has already increased by 30% since 2020. It generated up to $5.8 billion in the year 2022.

Types of Low-Code Development Platforms

Low-code platforms have different categories to fulfill additional requirements of developers. Majorly, the enterprise, banking, and telecom low-code application development platforms are classified into five categories which are mentioned below:

·         Process

·         General Purpose

·         Request Handling

·         Database

·         Mobile First

However, despite several advantages and features, one apparent flaw in the platforms slows down its train.


What is the difference between low code and no-code development?

Although low-code and no-code platforms seem no different, they do have slight differences. Low-code platforms specifically target developers. Developers are already aware of the technology in the system, but the low code enables them to work quickly and efficiently.

Whereas no-code targets business users who want to create applications for their business solutions and have little or no knowledge of programming languages. It provides the safest and most friendly user interface. Users don’t have to edit the code manually. This platform is convenient when abstracting technical information.

The third difference is related to the trade-off. Low-code systems, as indicated by the name, do require some coding. This is because a vast range of technical solutions is designed with this platform. Moreover, coding is necessary for the construction process. This is to ensure that the creator has complete authority over its creation. On the other hand, no-code platforms require zero coding and are dependent on abstract technology. This platform is comparatively cheaper and easy to use.

Final Verdict:

The main distinction between Business Process Management (BPM) and low-code is setup. Low-code solutions are typically hosted in the cloud and quickly set up. Traditional BPM configuration and implementation might take up to 6 months on-premises.

Generally speaking, an enterprise, banking, and telecom low-code application development system enable you to create whatever kind of application you desire. The ability to customize a BPM solution through code may or may not be there, but the application must be linked to a workflow.

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